Delhaize Group : Delhaize Group 2012 results

Delhaize Group : Delhaize Group 2012 results
Financial Highlights 2012 (at identical exchange rates)
» Revenue growth of 2.9%; organic revenue growth of 2.1%
» 62% of the Food Lion brand repositioning completed
» Underlying operating profit decline of 17.5%
» Free cash flow generation of €772 million at actual exchange rates
» Proposed full year gross dividend of €1.40 per share
Financial Highlights Fourth Quarter 2012 (at identical exchange rates)
» Revenue growth of 0.3%; organic revenue growth of 2.5%
» Positive comparable store sales and volume growth at Food Lion
» Underlying operating margin of 3.6%; impacted by ongoing price investments
Appointments
» Proposed appointment of Ms. Elizabeth Doherty as new independent Director
» CEO Comments
Pierre-Olivier Beckers, President and Chief Executive Officer of Delhaize
Group, commented: "As indicated in January, our financial results in 2012 were
within guidance. We are particularly pleased by our strong free cash flow
generation and we believe that we will generate an average of approximately
€500 million free cash flow per annum over 2013-2015."
"In 2013, we will remain focused on accelerating the progress at Food Lion,
revitalizing Delhaize Belgium and driving growth in Southeastern Europe. We
aim to remain relevant to our customers, continuing our sustainable price
policies and accelerating revenue growth. We will fund this through a
combination of disciplined capital allocation and cost control. The decision
to decrease the dividend this year is a clear example of Delhaize Group's
commitment to maintaining its financial strength and achieving revenue
growth."
"We remain encouraged by the continuation of several positive trends we
experienced during the fourth quarter of 2012, particularly in the U.S. Over
time, we believe that Delhaize Group has the ability to improve its operating
performance in all of its markets, by staying focused on sustainable revenue
growth and strict cost management. We are looking forward to provide further
updates on our strategic progress on May 8 at the occasion of our Q1 release
and Capital Markets Day."
» Contacts
Investor Relations: +32 2 412 21 51
Media Relations: +32 2 412 86 69
Press release and presentation in pdf format
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Source: Delhaize Group via Thomson Reuters ONE
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